A step forward in selling Svyazinvest

Russia’s government is moving closer to selling its 75 per cent stake in leading telecommunications holding Svyazinvest.

Parliament has approved a range of amendments to communications law. The sale is part of government plans to pull out from domestic companies considered not strategically important for national security. Proposed legislation scheduled to take effect in the first half of next year would see enforcement agencies having continued unrestricted access to Svyazinvest regional fixed-line subsidiaries and long-distance operator Rostelecom. Communications minister Leonid Reiman estimates that between eight and ten months are needed to prepare for the sale.